18 August 2015
DETAILS
today announced that
YPF S.A. and Grupo Inversor Petroquimica S.L.
have accepted an offer to purchase
LyondellBasell's Argentina-based, wholly-owned subsidiary
Petroken Petroquimica Ensenada S.A. (Petroken).
The sale is expected to close in late 2015
following Brazilian antitrust authority (CADE) approval.
The transaction is valued at $145 million on a debt and
cash free basis. Based on working capital estimates
as of June 30, 2015, expected cash proceeds are$162 million.
Petroken operates a 180 kiloton polypropylene plant
in Ensenada and is a leading polypropylene producer in Argentina.
SOURCE LyondellBasell
For further information:
Media Contact,
George F. Smalley,
+1 713-309-7575,
or Investor Contact,
Douglas J. Pike,
+1 713-309-7141
WWW.CHEMWINFO.COM BY KHUN PHICHAI
